personal finance

The Federal Reserve misses a crucial turning point in its fight against inflation because it believes in bad data

The Federal Reserve misses a crucial turning point in its fight against inflation because it believes in bad data

The Federal Reserve cannot see the probable economic crash that is coming because it is always looking in the rear view mirror, where it sees nothing but high inflation. The danger arises because the consumer price index and the personal consumption expenditure price index – the two most important indicators of inflation – have a …

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UK mortgage borrowers to take a nasty shock from soaring rates |  CNN Business

UK mortgage borrowers to take a nasty shock from soaring rates | CNN Business

London CNN Business — Millions of mortgage borrowers in the UK are bracing for huge hikes in their monthly payments due to the run on the pound. Markets have been in turmoil since UK Finance Minister Kwasi Kwarteng announced the biggest tax cuts in 50 years on Friday, along with a sharp increase in government …

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Nearly 70% of Americans are looking for extra work to fight inflation

Nearly 70% of Americans are looking for extra work to fight inflation

A few months ago, Mike Petree noticed an alarming trend: his bank account was getting uncomfortably low on the weekends before he got his paycheck, paid bi-weekly on Wednesdays. Despite no change in their daily routines, the bills for him and his family of five have skyrocketed: a $120 weekly grocery bill soared to $200, …

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How to turn stock losses into tax savings and other ways to lower your tax bill

How to turn stock losses into tax savings and other ways to lower your tax bill

Prathanchorruangsak | Istock | Getty Images Review withholding tax First, you want to examine how much money is withheld from your payroll for federal taxes. Having too little tax withheld could result in a tax bill or penalty. If too much tax is withheld, you may get a refund. You should check your source deductions …

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Why investing in income properties is not part of my retirement strategy

Why investing in income properties is not part of my retirement strategy

(Maurie Backman) There’s a reason so many retirees tend to struggle financially – they don’t settle down with enough income streams for their senior years. Many seniors end up turning to Social Security to provide the bulk of their income (or, in some cases, all of their income). But these benefits generally don’t set the …

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Fed rate hikes have made some corporate bonds very attractive.  How to take advantage of it

Fed rate hikes have made some corporate bonds very attractive. How to take advantage of it

As stocks fall and interest rates rise, investors are getting more excited about corporate bonds than they have in a generation. A side effect of the Federal Reserve’s tightening policy is that it has driven up interest rates everywhere, including in the corporate bond market. But as the pros point out, investors need to be …

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Couples should do this before combining financial assets

Couples should do this before combining financial assets

An anniversary the newlyweds will likely never celebrate is the day each spouse agreed to split their finances. That’s because money and romance only co-exist as a business venture – think Valentine’s Day, birthdays, and major annual holidays. After all, Cupid aims his arrows at hearts – not at bank accounts. From a relationship-building perspective, …

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